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Create A BlogThe Power of Photography |
Posted at Jackson, NJ Real Estate Blog by Matthew Genovese
Feb. 9, 2009
I was reading a blog today by a professional photography studio that sells their services to the real estate industry. As part of their sales process they have commissioned a study about the positive effects of professional photography in selling homes.
In reading this I found that it was good information for sellers and good reenforcement of what we already know...that homes listed on-line with pictures are always better received by buyers than those without...and those with more pictures better received than those with just one or two.
Our company has a policy of posting at least six pictures of every listing. It makes the experience of viewing the home on-line so much more enticing when you feel like you are seeing the entire house...not just the front lawn.
Now, this site has quantified that people give a higher perceived value to homes that have "professional" photography. But I think that with the right person behind the camera, you don't necessarily have to pay for a photographer. A "professional" REALTOR should be properly equipped to take good, high quality photos of your home.
Of course, that isn't always the case. In looking through the photos on REALTOR.com you can always find the shots that are out of focus, or of the cluttered bed room or the obligatory bathroom picture with the reflection of the agent on the mirror!
But, again the real take away here is that some is always better than none. According to the survey (here's a link to the findings) a $410,000 home is perceived to be worth $435,000 with any pictures in the listing. That means even the bathroom pictures! Now, if you want to pay up for the professional photos there is a benefit. Similar homes listed with professional photos have a perceived value of $460,000. It's your choice.
There really is no option; don't let your home be listed on-line without posting numerous pictures.
What have been your experiences with real estate photography? Have any funny pictures you want to share? Have you ever used a professional photographer for your listing photos?
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1. RE: The Power of Photography
It amazes me that in a professional industry like real estate that realtors have such a hard time hiring (or maybe justifying) paying for a professional photographer to take photos of their listings. You are in fact professionals and you get paid very well for representing and selling real estate. You hire professionals for inspections, appraisals, notaries, mortgage people (and the list goes on), still, you can not pay $150 - 350 for a professional to photograph your properties.
Purely from your example above, if a home that was $410,00 sold for $460,000 with professional photography, that is a $50,000 increase. Now if we say that you only get a 2% commission, that is $500 more commission. You paid $250 for photography and you made $250 more by using a pro. Not really an incentive, right? Wrong! Yes you may have only made $250 more, but look at all the other benefits.
1 - You did not have to spend the time and expense of putting yourself in the "photography business" to save yourself money.
2 - You listing sold faster, now you have more time to concentrate on other listings and sales.
3 - You client made more money and are much happier with you and your service.
4 - When you are selling yourself to the next client (listing or sale) you can boast about your success and how by using a professional it added value to the home and to the sale.
5 - You look smarter and therefore like a much better candidate then the next realtor because you have some added value to selling their home because you recognize the importance of using quality (and quantity) professional photography. You have a team of professionals that serve you.
What will it take for Realtor to get the importance and magnitude of how professional photography can work for them. It is a tool not an expense. It is like advertising, advertising does not cost, it PAYS. Professional Photography does not cost, it adds a lot to the overall sale of the home, the price of the sale, the amount of time the home is on the market, the satisfaction of the client and the reputation of the Realtor. Where else can you spend $250 and get this kind of improvement in your sale. Nowhere!
For those that take their own picture, it like me saying, I am going to sell my home FSBO. How hard can it be?
Cheers!
Gar